County Bancorp Inc (NASDAQ:ICBK) declared a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, June 7th will be paid a dividend of 0.05 per share by the financial services provider on Friday, June 21st. This represents a $0.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, June 6th.
County Bancorp has raised its dividend payment by an average of 20.5% annually over the last three years and has raised its dividend every year for the last 3 years. County Bancorp has a dividend payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect County Bancorp to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 9.8%.
County Bancorp stock traded down $0.18 during trading hours on Friday, reaching $17.58. 18,087 shares of the stock were exchanged, compared to its average volume of 11,228. The company has a market cap of $119.10 million, a P/E ratio of 8.62, a PEG ratio of 1.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.04 and a current ratio of 1.04. County Bancorp has a 52-week low of $16.24 and a 52-week high of $28.97.
In other news, Director Patrick J. Roe acquired 4,357 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $17.51 per share, for a total transaction of $76,291.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 6,737 shares of company stock worth $119,331 in the last 90 days. 23.30% of the stock is currently owned by insiders.
An institutional investor recently raised its position in County Bancorp stock. Geode Capital Management LLC boosted its holdings in County Bancorp Inc (NASDAQ:ICBK) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,347 shares of the financial services provider’s stock after purchasing an additional 2,380 shares during the quarter. Geode Capital Management LLC owned approximately 0.71% of County Bancorp worth $822,000 at the end of the most recent quarter. Institutional investors and hedge funds own 28.30% of the company’s stock.
A number of brokerages have recently issued reports on ICBK. Zacks Investment Research downgraded shares of County Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 27th. Hovde Group cut shares of County Bancorp from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Friday, February 15th. Sandler O’Neill raised shares of County Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $20.00 in a research note on Monday, April 22nd. Finally, FIG Partners reissued a “market-perform” rating on shares of County Bancorp in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.40.
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County Bancorp Company Profile
County Bancorp, Inc operates as the bank holding company for Investors Community Bank that provides a range of consumer and commercial banking services to individuals, businesses, and industries primarily in northeastern and central Wisconsin. The company accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits.
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